Enbridge (NYSE:ENB) Stock Price Down 0.8%

Enbridge Inc. (NYSE:ENB) (TSE:ENB)’s share price was down 0.8% during mid-day trading on Tuesday . The company traded as low as $40.40 and last traded at $40.47. Approximately 816,913 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 5,305,726 shares. The stock had previously closed at $40.79.

Enbridge Trading Down 1.6 %

The stock has a market cap of $87.38 billion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 3.92 and a beta of 0.93. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34. The business’s fifty day simple moving average is $37.92 and its 200 day simple moving average is $36.44.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.13. The firm had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same quarter in the previous year, the company posted $0.51 EPS. As a group, analysts expect that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were paid a $0.669 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.67%. Enbridge’s dividend payout ratio (DPR) is presently 134.01%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Sei Investments Co. grew its holdings in shares of Enbridge by 6.1% in the 1st quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock valued at $9,922,000 after buying an additional 15,650 shares during the period. State Board of Administration of Florida Retirement System acquired a new position in shares of Enbridge in the first quarter valued at approximately $1,133,000. CAP Partners LLC bought a new stake in shares of Enbridge during the fourth quarter worth $391,000. Vanguard Group Inc. raised its holdings in shares of Enbridge by 1.5% during the first quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock worth $3,049,268,000 after acquiring an additional 1,227,031 shares during the period. Finally, Parallel Advisors LLC lifted its position in Enbridge by 11.0% in the 4th quarter. Parallel Advisors LLC now owns 24,183 shares of the pipeline company’s stock valued at $871,000 after acquiring an additional 2,402 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

About Enbridge

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.